Looking through the encyclopedia, it can be seen that Jin Jiang Hotel China was established in May 2020, which is a combination of the original Jin Jiang Limited Hotel and the later mergers and acquisitions of Vienna and Plateno, focusing on limited service business.
The publicly disclosed financial report for the third quarter of this year showed revenue of 1096.2 billion, with a net profit of 97.5 billion, after 3 years of the epidemic, the market is slowly recovering, but internally, it is believed that the operating level of the hotel business, which is the core business of Jin Jiang, has not yet met expectations, and the reason why it is adjusted at this time node is obviously to improve efficiency through internal reform.
As we all know, as a giant in the domestic hotel industry, Jin Jiang has experienced a number of mergers and acquisitions, and there are still some problems such as large structure, redundant processes, and difficult to turn around.
On the other hand, Huazhu, another hotel group in China, had a revenue of 62 in the third quarter of this year8.8 billion, an increase of 536%, net profit soared to 133.7 billion, in the level of operation and management efficiency is obviously better, Jin Jiang estimates also to see this situation, this year even held a number of rounds of sales PK competition, near the end of the year, has begun to make changes for the new year, the bureau insiders revealed, another vice president Wang Wei will be promoted to China CEO, the effect remains to be seen, Jin Jiang needs to solve a lot of problems, the future is still a long way.